TVM Capital closes $150-million life sciences fund

TVM Capital has closed a $150-million venture fund focused on early-stage drug development and life sciences firms. Investment in TVM Life Science Ventures VII is led by Teralys Capital with $65 million. Other investors in the Montreal-based fund include Eli Lilly & Co, BDC Venture Capital, Fondaction and Advantus Capital Management, a subsidiary of the Minne-sota Life Insurance Co. As part of its participation, Eli Lilly will establish a Canadian unit of Chorus, its global, early-stage drug development network providing expertise and advice up to proof-of-concept....